The Bank of Korea retained its interest rate on Thursday as inflation remained stable and economic growth continued to improve amid rising concerns over the heated property market.
The Monetary Policy Board of the Bank of Korea decided to leave the Base Rate unchanged at 2.50 percent.
The central bank had previously lowered the benchmark rate by a quarter-point each in May and February.
Although inflation remained stable and economic growth continued to improve driven by consumption and exports, there is still high uncertainty around the growth outlook, policymakers said.
Also, policymakers assessed that it is necessary to further monitor financial stability conditions, such as the effects of real estate market stabilization measures on housing markets in Seoul and its surrounding areas and on household debt, as well as exchange rate volatility.